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Showing 61 - 70 of 305 results for "Consent"

Aussies do not underspend in retirement, say super funds

JAMIE WILLIAMSON  |  WEDNESDAY, 21 FEB 2024
... retirement products and lift the ban on making contributions to a retirement phase super account. It added that, with member consent, the government should notify super funds about members' eligibility for pensions and other government support, like ...

Rest faces class action over IP premiums

CHLOE WALKER  |  MONDAY, 19 FEB 2024
... December 2008 to June 2019, Rest automatically enrolled new members in income protection insurance without their active consent. It also claims that when members didn't make any contribution to their Rest account for 13 continuous months or more ...

SMSF scammers charged with criminal offences

KARREN VERGARA  |  WEDNESDAY, 7 FEB 2024
... 2020 and July 2021 under various names. The website operators used two legitimate AFS Licences without their knowledge or consent. ASIC did not name the holders of the AFSLs. Cullia, who hails from Southbank, Victoria, was charged with conspiracy to ...

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON  |  THURSDAY, 1 FEB 2024
... "significant volumes" of derivatives in the market prior to execution. The Court added that Westpac failed to obtain client consent or give full and clear disclosure as to the extent of the pre-hedging and, once Westpac commenced on-market pre-hedging ...

Fee consent forms, FDS overhaul concerns FAAA

KARREN VERGARA  |  MONDAY, 18 DEC 2023
The Financial Advice Association of Australia (FAAA) expressed concerns about Treasury's proposal to abolish fee consent forms and Fee Disclosure Statements (FDS) in its response to the first round of reforms. Currently, advisers must produce an annual ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI  |  THURSDAY, 30 NOV 2023
The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

Allianz Retire+ heavyweight jumps ship

ELIZABETH FRY  |  FRIDAY, 17 NOV 2023
... retirement offers for members to consider. It would be a game changer,' he added. "For example, superfund members could consent to have MyGov data preloaded into their super fund so it can easily access data already available on government systems." ...

Treasury unveils advice reforms draft legislation

KARREN VERGARA  |  TUESDAY, 14 NOV 2023
... adds to the cost of advice with no benefit to consumers. Advisers can expect the streamline of ongoing fee renewal and consent requirements, including removing the requirement to provide a fee disclosure statement (Recommendation 8) and flexibility on ...

Financial advice firms profits jumps: Research

CASSANDRA BALDINI  |  WEDNESDAY, 6 SEP 2023
... claimed it would have no impact, while 12% remained unsure. Additionally, 83% said the recommendation around streamlined fee consent was positive, while 6% said it has no impact, and 9% weren't sure. Regarding Statements of Advice only being provided ...

Treasury kicks off managed investment scheme reforms

KARREN VERGARA  |  TUESDAY, 8 AUG 2023
... about what the consequences of being a wholesale client entails. Consequently, the QAR recommended introducing written consent requirements for wholesale clients who meet the net assets or gross income thresholds of the individual wealth test. The QAR ...